Opportunities in Oman

02 Sep 2020

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The Arab British Chamber of Commerce organised webinar on opportunities in Oman in partnership with Britain’s Department for International Trade and the Embassy of Oman in London.

The virtual event was on 2 September was viewed by over 150 people.

Rt Hon Baroness Symons, the ABCC Chairman, stated that trade between the UK and Oman was founded on a strong relationship.

Mr Abdeslam El-Idrissi, Deputy CEO & Secretary General, ABCC, in a presentation on the attractions of Oman for investors, described the sultanate as a strategic location and important business hub ideal for doing business across the Gulf, the Arab world and Africa.

Mr El-Idrissi indicated that there had been a small increase in both imports and exports during the first half of the year, which was remarkable given that these were months that marked the start of the Covid-19 lockdown.

The Oman Vision 2040 had set out plans to increase the diversification of its non-oil sector, develop new productive industries and ensure sustainable development for the long term.

Many opportunities were available in education, water and waste management, fisheries, tourism, logistics, healthcare upgrade and chemicals industry.

Concluding, Mr El-Idrissi mentioned that the ABCC had produced a Doing Business with Oman report and copies were still available.

Chairing the discussion, Mr Bandar Reda, ABCC CEO & Secretary General, emphasised Oman’s strong links with the UK and the comprehensive ambitions of Vision 2040 which covered so many different sectors.

Mr Gareth Stevens, Director of Trade and Investment at the British Embassy in Muscat, described the webinar as an ongoing process of informing business about what was available in Oman and remarked on the cooperation with the ABCC in hosting successful events and trade delegations.

At present while international travel remained restricted due to the pandemic, business was being carried out effectively online, he said.

The UK official said Oman was business friendly and very keen to develop its ties with the UK which were already strong. The English language was widely used as were British product standards.

A broad range of questions were submitted to the speakers reflecting a high level of interest in Oman.